Dave Camp: “I do want to just touch on some points raised by the gentleman from Michigan (Mr. Levin). We did work closely together…”

“I do want to just touch on some points raised by the gentleman from Michigan (Mr. Levin). We did work closely together on the supplemental agreement last year with the administration, with automakers, with autoworkers, and that is incorporated in the legislation before us today. It does address, as the gentleman from Michigan pointed out, key tariff and nontariff barriers, including numerous provisions to ensure that South Korea cannot use a regulatory system or process to block our exports. The International Trade Commission estimates that the removal of nontariff barriers alone will add an additional between $48 million and $66 million in new exports. That's in addition to the $194 million dollars in new exports expected from lower Korean tariffs on autos alone. Inaction on the Korean trade agreement has allowed the European Union and other competitors to step in and take our market share. That's diminished our leadership in Asia. The Korean trade agreement is key to our engagement in Asia, and it will be a critical counter to Chinese influence in the region. We've heard a lot about China today, but how do we counter Chinese influence in the region through this agreement? {time} 1640 This agreement, also, I think, is critically important because it deepens our ties with a strong and important ally. The United States and South Korea have had a 60-year history of standing together.…”